Pakistani exports have become uncompetitive after the government doubled gas prices for in-house power generation by factories, endangering the target of a three-year goal of increasing exports to USD 60 billion, according to a business body.
The Pakistan Business Council (PBC) informed Prime Minister Shehbaz Sharif on Tuesday about the development through a letter, the Export Tribune reported.
In a paradoxical situation, the miseries of industries are apparently an achievement for the government that has met an International Monetary Fund (IMF) loan condition to either make gas unaffordable for in-house power generation or completely cut it off, the paper reported.
The government has chosen the first option, which became the reason for the PBC a representative body of manufacturers to write a letter to the prime minister, reporter the paper.
"Your USD 60 billion export target by 2027 is unlikely to be achieved. The competitiveness of manufacturing for the domestic market, which